Doximity (NASDAQ:DOCS) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to a neutral rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $40.00 target price on the stock, down from their previous target price of $62.00.

A number of other equities analysts have also weighed in on the company. Truist Financial reduced their price objective on Doximity from $62.00 to $37.00 and set a “buy” rating for the company in a research note on Friday. Canaccord Genuity Group set a $48.00 price target on Doximity in a research report on Thursday, January 8th. BTIG Research decreased their price target on Doximity from $80.00 to $50.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler dropped their price objective on shares of Doximity from $70.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $65.00 to $55.00 in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.39.

Doximity Trading Down 16.7%

Shares of NASDAQ DOCS opened at $27.75 on Friday. The company has a 50 day simple moving average of $42.69 and a two-hundred day simple moving average of $56.65. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 4.10 and a beta of 1.39. Doximity has a 12 month low of $23.66 and a 12 month high of $85.21.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that Doximity will post 0.99 EPS for the current year.

Doximity declared that its board has authorized a share buyback program on Thursday, February 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Doximity by 24.2% during the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after buying an additional 20,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC grew its stake in Doximity by 613.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after acquiring an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in Doximity in the 1st quarter worth approximately $283,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity News Summary

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Q3 results beat consensus on both revenue and EPS and the company highlighted record engagement and early AI product adoption — positives for long‑term monetization. Read More.
• Positive Sentiment: Board authorized a $500 million buyback (up to ~8% of shares), which signals management believes the stock is undervalued and should support shares over time. Read More.
• Positive Sentiment: Product recognition: Doximity ranked #1 in KLAS telehealth video platform for the 5th consecutive year — supportive for competitive positioning in telehealth and workflow products. Read More.
• Neutral Sentiment: Several sell‑side firms cut price targets (Truist, BTIG, Needham, Morgan Stanley) but largely kept buy/overweight ratings; JPMorgan moved to neutral with a lower target — analysts remain mixed on near‑term growth while some still see upside. Read More.
• Negative Sentiment: Management lowered FY26 revenue guidance and Q4 revenue guidance came in below Street expectations; guidance cut plus margin compression were cited as the main reasons for the sharp after‑hours decline. Read More.
• Negative Sentiment: Management flagged pharma budget delays and a cautious outlook that could weigh on near‑term revenue cadence; investors reacted to weaker forward visibility. Read More.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.